TIVAN LIMITED — Capital/Financing Update 2011

May 9, 2011

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ASX ANNOUNCEMENT

February 2011 ASX CODE : TNG

TNG COMMENCES COPPER EXPLORATION AT McARTHUR RIVER PROJECT, NORTHERN TERRITORY

Highlights

REGISTERED OFFICE

TNG Limited Level 1, 282 Rokeby Road Subiaco, Western Australia 6008

T +61 8 9327 0900 F +61 8 9327 0901 W www.tngltd.com.au E corporate@tngltd.com.au

ABN 12 000 817 023

• Initial program of mapping, rock chip sampling and soil sampling underway at McArthur River Project, Northern Territory.

• Historic rock chip grades of up to 2% copper.

• Initial focus on historic Kilgour Crossing and Donkey Yard prospects, as well as six geophysical targets and two copper occurrences.

• Exploration aimed at large-tonnage, sedimentary-hosted copper deposits.

• Negotiations with Traditional Owners for nearby Yah Yah Copper Mine also progressing.

DIRECTORS

Neil Biddle Paul Burton Stuart Crow

COMPANY SECRETARY Simon Robertson

PROJECTS

Mount Peake: Fe-V-Ti Manbarrum: Zn-Pb-Ag East Rover: Cu-Au McArthur: Cu

CONTACT DETAILS

Paul Burton | +61 8 9327 0900 Nicholas Read | +61 419 929 046 Simon Robertson | +61 8 9327 0900

Australian resources company TNG Limited (ASX: TNG) is pleased to announce that it has commenced its maiden exploration program at the newly-acquired McArthur River tenement (EL 27711), 50km south of the township of McArthur in the Northern Territory.

The tenement has two major copper targets – Kilgour Crossing and Donkey Yard, both of which have been explored intermittently over the past 50 years with historic rock chip grades of up to 2.0% Cu at Donkey Yard and up to 1.9% Cu at Kilgour Crossing.

TNG’s exploration campaign will comprise an initial program of surface mapping, rock chip sampling and soil sampling, with exploration activities to focus primarily on Kilgour Crossing and Donkey Yard, as well as six other previously-identified geophysical targets and two copper occurrences identified by the Northern Territory Geological Survey (NTGS).

The tenement includes numerous other prospective copper targets identified from previous stream sampling results and prospective geology (Figure 3).

Exploration will be aimed at large-scale sedimentary-hosted copper deposits similar to Mount Isa and Gunpowder in Queensland and the large copper deposits of Zambia and the Democratic Republic of Congo.

Managing Director, Mr Paul Burton, said the Company plans to ramp up its copper exploration activities over the coming months in parallel with the ongoing PreFeasibility Study work being conducted at its flagship Mount Peake Iron-Vanadium Project in the Northern Territory.

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Mineralisation at McArthur River is hosted by the Mallapunyah formation, in two dolomitic and variably bituminous intervals informally termed the 'upper' and 'lower' copper beds, which are 1m to 150mm thick, respectively. Chalcocite and chalcopyrite are present in the 'lower copper bed' along its strike length of 500m. Copper mineralisation in the lower copper bed 5km north of the Kilgour Crossing prospect comprised about equal quantities of chalcocite and bornite.

Previous exploration was conducted by companies including Carpentaria Exploration, Australian Geophysicals, Aberfoyle and Mount Isa Mines.

TNG is also pleased to advise that negotiations with Traditional Owners regarding access to the Yah Yah Copper mine (EL 28509), 50km west of the township of McArthur, are in progress. The historical Yah Yah copper mine was discovered in the 1900s and produced some 40 tonnes of hand-picked, high-grade copper (20-30% Cu) ore prior to 1912.

TNG LIMITED

Paul E Burton Managing Director 10[th] May 2011

Enquiries:

Paul E Burton, Managing Director

+ 61 (0) 8 9327 0900

Nicholas Read, Read Corporate

+ 61 (0) 419 929 046

COMPETENT PERSON STATEMENT

The information in this report that relates to Exploration Results is based on information compiled by Paul Burton who is a Member of The Australasian Institute of Mining and Metallurgy , an employee and Director of TNG Limited. Paul Burton has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Paul Burton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

TNG Limited | ASX Announcement

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Figure 1: Location Map; TNG Copper Exploration Licences NT

TNG Limited | ASX Announcement

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Figure 2: McArthur Licences

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Figure 3: McArthur EL27711 Previous Exploration results

TNG Limited | ASX Announcement